Confluent Raises $250M and Kicks Off Project Metamorphosis

Confluent, a company specializing in event streaming, has raised $250 million in its Series E funding round, valuing the company at $4.5 billion. The investment was led by Coatue Management with participation from Altimeter Capital and Franklin Templeton, as well as existing investors Index Ventures and Sequoia Capital. Confluent's cloud offering, Confluent Cloud, has seen significant growth in adoption and revenue. Event streaming is emerging as a major new technology category that could be as important and foundational to modern businesses as databases have been. The company plans to accelerate its efforts with the launch of Project Metamorphosis, which will introduce new product capabilities over the next eight months. Confluent has also been named Microsoft's 2024 OSS on Azure Global Partner of the Year for its commitment to delivering outstanding open source-based applications and infrastructure solutions on Microsoft Azure.